Friday February 15, 2013 0 comments
BOULDER - The plug-in electric vehicle (PEV) market is continuing to grow and will see stronger growth as the global economy improves and battery prices come down, and a key enabler - and direct result - of that growth will be expanding sales of EV charging equipment, also known as electric vehicle supply equipment (EVSE).
According to a report by Pike Research, a division of Navigant (NYSE: NCI), annual revenue from EVSE sales will grow from $355 million in 2012 to more than $3.8 billion by 2020.
"The EVSE industry is still grappling with the best way to create a viable return on investment on EVSE station deployments for site hosts - an issue that will move front and center as publicly-funded EVSE deployments wind down," said Lisa Jerram, Pike's senior research analyst.
"At the moment, there are too many players chasing this market, and this industry is likely to see some consolidation over the next year. Companies that can weather this shakeout period, however, are likely to enjoy growing demand as the market expands."
Pike said the key short-term challenge for commercial EVSE sales is to devise a viable business model.
Pike's report, "Electric Vehicle Charging Equipment," includes profiles of more than 40 industry players. An executive summary is available for free download at www.navigant.com/pikeresearch.